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Letterman's $14M CBS Deal: The Time Slot War
30 Aug
Summary
- CBS offered Letterman $14 million annually to switch networks.
- NBC prioritized keeping Jay Leno, foregoing David Letterman.
- The 11:30 p.m. time slot was the main reason for Letterman's move.
In August 1993, David Letterman made a pivotal career move, debuting "Late Show" on CBS. This transition followed his long-running "Late Night with David Letterman" on NBC, which concluded in June 1993.
CBS actively pursued Letterman, offering a substantial $14 million annual salary. This was a dramatic increase from his $3 million NBC compensation. Furthermore, Letterman's production company was offered $25 million.
A key factor influencing Letterman's decision was CBS's commitment to the desirable 11:30 p.m. time slot. NBC had previously allocated this coveted spot to Jay Leno, leaving Letterman in the later 12:30 a.m. slot.
NBC's internal discussions revealed a prioritization of retaining Jay Leno. Despite efforts to keep both, the network ultimately chose Leno for "The Tonight Show," which had been Johnny Carson's former timeslot.
